Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Retailing in Norway

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Executive Summary

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Internet retailing drives growth

Internet retailing continued to outperform all other retailing channels in Norway in 2018 as internet literacy is high in the country and the channel’s payment methods are considered secure, with new alternatives also emerging, such as the money transfer app Vipps and Apple Pay. However, there are growing concerns throughout the industry about foreign e-commerce, which is growing faster than domestic e-commerce.

A record year for bankruptcies

Despite oil prices rising again and a strong improvement in the economy when compared to 2016 and 2017, 2018 was a record year for bankruptcies, impacting all industries. However, retailing suffered the most, witnessing a 30% increase in bankrupt companies compared to the previous year.

Retailers focus on improving service and customer experience

In order to combat the growing threat posed by internet retailing, retailers in Norway have increased their focus on service and in-store customer experience. They are also increasingly focusing on integration between their physical outlets and their web platforms.

Discounters seem better equipped to deal with the digital revolution

While grocery retailers still accounted for nearly half of overall retailing value sales in Norway in 2018, discounters alone commanded one fifth of sales, being one of the last single channels larger than internet retailing. Online grocery retailing is growing but the discounter model seems to be so well-established that it has been able to cope.

Slightly stronger growth expected over the forecast period

Retailing in Norway is set to record slightly stronger growth over the forecast period when compared to the review period. Internet retailing will be the main driver of growth, albeit taking share from all other channels.

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